August Monthly Briefing: Tech Grows Up
Our views on what matters |
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In this Monthly Briefing, we’re looking at how much tech has grown up. At the beginning of the year, in our 2020 Actions for Business we predicted this would be the year that tech would be forced to respond to the increasing pressure to behave better. The challenge being how quickly the industry could create a renewed positive narrative around the sector, by not only meeting the standards of being a responsible corporate citizen, but also leveraging their assets and skills to be a true force for good.
As our lead article ‘Tech grows up?’ states, there is hardly a more fitting time to write about Big Tech’s place in the world, as the bosses of the four major firms, Facebook, Amazon, Alphabet and Apple, appeared before the US Congress to face questions, as lawmakers considered their market dominance and whether there is need for tougher regulation to rein in the tech giants.
Our news stories highlight that changes are being made, though often in response to pressures, such as the Black Lives Matter movement, where the tech giants including PayPal, Apple and YouTube have pledged millions to address racial injustice and prejudice. Or from employee pressures, where 9,000 Amazon Employees for Climate Justice have helped force Amazon make ostensibly a U-turn on its climate commitments, as it now commits to net-zero carbon emissions by 2040 and debuts a $2 billion Climate Pledge Fund to back “visionary” green innovators. While Facebook continues to defy calls for concrete solutions to address hate speech and misinformation, despite the threat of an advertising boycott by more than 1,000 companies including Disney, Microsoft, Verizon and Volkswagen, making its position increasingly out of step with the direction of the rest of the tech sector.
What we’re not yet seeing enough of, is a move from reactive measures to a shift in commercial business practice. Responsible behaviour needs to be at the heart of the business. Which is exactly what our guest contributor Virgin Media outlines, where it has aligned its purpose and values into action, making a measurable difference for 1 million disabled people to get into work.
So yes, behavioural change in the tech sector is happening. The question remains, can tech be a force for positive impact? And which of the tech giants will take the lead?
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| | | Tech giants pledge millions to BLM movement in push for racial equity Tech companies have begun to take a public stance on racial injustice, making pledges and taking action in an acknowledgement of how tech products and services can deepen racial divides.
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| | Amazon debuts $2 billion Climate Pledge Fund to back “visionary” green innovators
Amazon commits to a new climate fund that is expected to invest in multiple industries, and over time will look to involve other Climate Pledge signatories in the venture investment programme.
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| | “Disappointing” Zuckerberg meeting fails to yield results, say Facebook boycott organisers
How Facebook continues to defy calls for concrete solutions to address hate speech and misinformation, despite threat of advertising boycott by more than 1,000 companies.
Read More |
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| | Tech grows up? For too long tech companies have buried their head in the sand, failing to accept and act upon their responsibilities, other than through reactive measures. But changes are happening. Can they be a force for positive impact? Read More |
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| | The importance of using your brand as a platform for positive change How Virgin Media has made sustainability a core part of the business, aligning its purpose and values with a commitment to getting 1 million disabled people into work by 2020. Read More |
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